Comcast NBC deal held up by various issues

Apparently, an agreement will likely be reached to give Comcast a 51 percent stake in the NBC Universal venture -- if the parties can agree on governance and exit provisions for General Electric's 49 percent stake. Exit provisions are critical in joint ventures because they deal with when and how a partner can get out. In the case of GE, many of its shareholders have urged the conglomerate to offload NBC Universal, whose broadcast and cable networks, movie studio and theme parks are considered misfits among GE's mostly industrial operations. The parties have discussed an option for GE to sell all or part of its stake in the new venture to Comcast within seven years. Vivendi is in talks with GE and is determined to get the best value for its 20 percent stake in NBC Universal. Vivendi has veto power over a deal, even though GE owns 80 percent of NBC Universal.